Coinbase Wins Final OCC Approval for National Trust Charter

The significance here is structural rather than operational: a federal trust charter puts Coinbase's custody arm on a different regulatory footing than state-by-state licensing, which matters most to institutional clients weighing counterparty and oversight risk. The absence of a migration date is the tell — approval is a milestone, not a finished transition, and existing custody arrangements remain in place for now. The open question is how the charter changes the competitive field for crypto custody among federally regulated providers, and whether other exchanges pursue the same path.